Recently, several institutional investors and hedge funds adjusted their positions in Constellation Brands. Capital International Investors increased its stake by 39.4% and now holds 11.68 million shares valued at $3.18 billion. Capital World Investors grew its holdings by 8.7%, owning 9.04 million shares worth $2.46 billion. Manning & Napier Advisors LLC took a new position worth around $119.39 million in the second quarter. Vanguard Group Inc. raised its stake by 3.5% and now owns 13.71 million shares valued at $3.72 billion. Boston Partners boosted its holdings by 50.9%, owning 975,589 shares worth $265.1 million. Overall, institutional investors hold 77.34% of the company’s stock.
Insiders Buy and Sell
In insider news, EVP Samuel Glaetzer sold 1,510 shares on October 14 for $370,810.70, lowering his ownership slightly. He now has 4,970 shares worth about $1.22 million. CFO Garth Hankinson sold 13,583 shares on August 8 for $3.26 million, and now owns 11,702 shares valued at $2.81 million. In total, insiders sold 136,221 shares worth $33 million over the last 90 days, and they own 12.19% of the company.
Stock Performance
Constellation Brands stock opened at $239.15 with a market cap of $43.76 billion. Key financial ratios include a PE ratio of 17.82 and a debt-to-equity ratio of 1.31. The stock has moved between a 52-week low of $227.64 and a high of $274.87. For the recent quarter ending October 3, the company reported EPS of $4.32, exceeding estimates, and revenue of $2.92 billion, slightly below expectations. Analysts expect EPS of 13.57 for the current year.
Dividend Announcement
Constellation Brands will pay a quarterly dividend of $1.01 on November 21 to shareholders recorded on November 5, yielding about 1.69% annually.
Analyst Ratings
Recent analyst reports show mixed targets for Constellation Brands. BMO lowered its target from $315 to $305 and maintained an “outperform” rating. JPMorgan reduced its target from $307 to $293, maintaining an “overweight” rating. Roth Mkm reiterated a “buy” with a target of $298. Truist cut its target to $255 and advised a “hold.” Overall, the stock has 4 hold ratings and 13 buy ratings, with a consensus target of $290.47.
Read Our Latest Stock Analysis on STZ
Company Overview
Constellation Brands, Inc. produces and sells beer, wine, and spirits in the U.S., Canada, Mexico, and Italy, known for brands like Corona and Modelo.
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